Pepsi to Adopt Green Mainstream With Sustainable Bond Sale
10/08/2019 Since 1 year
PepsiCo Inc. has made its debut sale of this debt. The company offered $1 billion of senior unsecured green securities while investors placed orders more than three times as much. The 30-year bonds will yield 92 basis points above Treasuries, after initially having discussed 110 basis points.
Pepsi plans to invest the proceeds from issuance in sustainable development objectives, including eco-friendly plastics and packaging and cleaner transportation. Proceeds from the deal are also marked for tree planting and for projects that will improve Pepsi’s operational water-use efficiency, according to a statement Monday. The packaged food and beverage company already has about $34 billion of debt outstanding, but this is its first green bond.
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